Stock Market & Financial Investment News

On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Acme Packet (APKT) initiated with a Sector Perform at RBC Capital... AptarGroup (ATR) initiated with a Neutral at JPMorgan... Bemis (BMS) initiated with a Neutral at JPMorgan... CytRx (CYTR) initiated with an Outperform at Rodman & Renshaw... Ellington Financial (EFC) initiated with a Buy at BofA/Merrill... Finisar (FNSR) initiated with a Sector Perform at RBC Capital... Hi-Crush Partners (HCLP) initiated with a Buy at UBS... Hi-Crush Partners initiated with an Outperform at Credit Suisse... PetroLogistics (PDH) initiated with a Buy at Dahlman Rose... Sealed Air (SEE) initiated with an Overweight at JPMorgan... Two Harbors (TWO) initiated with a Buy at BofA/Merrill.

News For APKT;ATR;BMS;CYTR;EFC;FNSR;HCLP;PDH;SEE;TWO From The Last 14 Days

Bemis narrows FY15 adjusted EPS view to $2.52-$2.62 from $2.52-$2.67Consensus is $2.59. Commenting on the remainder of the year, the company stated, “Our updated EPS guidance reflects the impact of currency translation, partially offset by the benefits of cost discipline. We continue to execute our innovation pipeline to grow our business with the right mix of products. We have improved the timing of our capital projects that will support productivity improvements and future growth; I am confident in the results these investments will bring. We are keenly focused on continuing to deliver progress toward our long term margin targets.” Management is raising its capital expenditures outlook for 2015 to be in the range of $200 million to $215M, an increase from its previous outlook of $185M-$200M. This increase reflects the improved timing of executing planned projects to support growth and operational efficiency. Management expects an effective income tax rate for the full year 2015 of slightly less than 34%.

Hi-Crush Partners cuts distribution to 47.5c from 67.5c per unitHi-Crush Partners announced last night that the board of its general partner has declared a cash distribution of 47.5c per unit on all common and subordinated units. Hi-Crush paid distributions of $2.40 per unit on all common and subordinated units for 2014 and $0.675 per unit for the first quarter 2015. The distribution will be paid on August 14 to all common and subordinated unit holders of record on August 5. "Market conditions resulting from reduced industry sand demand and pricing worsened this quarter with further price reductions and even lower demand. Our management team, along with the Board of Directors, determined that a reduction to the quarterly cash distribution was prudent as we do not expect a rebound in sand demand or pricing until 2016. We are expecting the remainder of 2015 to be challenging with continued uncertainty in the level of well completion activity, which is a key driver of sand demand. We expect to maintain the distribution at this level for the remainder of 2015," said Laura Fulton, CFO.